Fox Factory Hit by Dealer Destocking
FOXF’s Specialty Sports Group revenues dipped 11% to $132,716,000 from $149,502,000 as macro pressures led OEM, distributors and dealers to reduce inventory levels. Marucci’s late summer launches of Rckless bats and Victus aluminum bats sold well through the DTC channel, but concerns remain about consumer sentiment. This was further compounded by retail partners who are sensitive to inventory positions ahead of Holiday. The quarter also saw warehouse consolidation causing some temporary fulfillment friction. Bike components continue to perform well in the face of industry challenges that include bankruptcies at ... Log in to view full article.